Silver prices surged last week, and are starting off this week strong, confirming a bullish trend. Silver's positive movement has been fueled by optimism that the U.S. Federal Reserve is preparing to cut interest rates, coupled with a weaker U.S. dollar.
Silver gained 0.7% last month after dropping 2.1% in July and falling 2.9% in June.
But while both gold and silver have turned out a strong performance so far in 2024, on Monday, gold reached yet another record high, while silver is still working on attaining the high of $50 an ounce that it was able to reach in the last bull market.
It's impossible to time the markets, so we can't know when silver will make it's next big move up, but when it does, it will be swift. In 2020, silver saw gains of 48%, but the bulk of the momentum happened in just a few months! When silver moves, it moves explosively. And the fundamentals are set for another explosive move up...
2024 is expected to be another year of solid silver demand, according to The Silver Institute. The seemingly imminent easing of U.S. monetary policy should drive a notable rally in precious metal prices. Silver will benefit from interest rate cuts, but major price gains and a narrowing of the gold-silver ratio may have to wait until tightness in physical silver markets develops.
All year long, ASI has been telling the story of silver... and we urge you to catch up before silver moves onwards and upwards to it's next chapter in the current bull market. There's time before silver catches up to all-time highs, but that time is running out...
To help you take advantage of the building momentum in precious metal in 2024, we're offering silver bars at a low premium! Give us a call at 1-800-831-0007 or email us to place your order today!
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*Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. Minimum order is 100 oz. silver. Purchases totaling 500 oz. of silver or more will include free shipping, handling, and insurance. Bar selection is random and dealer's choice. Offer expires Friday, September 20, 2024, or while supplies last.